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<!-- wp:paragraph --><p><strong>Click2Sure</strong></p><!-- /wp:paragraph --><!-- wp:paragraph --><p><strong><em>Dog and cat owners take out pet insurance to cover the costs that might arise from having a pet – accidental injuries, veterinary surgeries, prescribed medications. When it comes to households with more than one pet – two cats, a dog – these costs can really mount up.</em></strong></p><!-- /wp:paragraph --><!-- wp:paragraph --><p>So while it’s still a relatively small sector of the insurance industry, pet insurance is growing fast with the global pet insurance market set to reach a&nbsp;<a href="https://www.globenewswire.com/news-release/2020/05/20/2036190/0/en/Pet-Insurance-Market-to-Rise-at-8-CAGR-till-2026-Increasing-Awareness-Regarding-Animal-Health-and-Well-being-Will-Bode-Well-for-the-Market-says-Fortune-Business-Insights.html" target="_blank" rel="noreferrer noopener">value of USD 11.25 billion</a>&nbsp;by the end of 2026. In South Africa, this trend is reflected- by the end of 2019, one South African insurer said that over 60% of households it insured had pet insurance, covering more than 100 000 pets.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>“The growth of pets as a retail category has been exponential, as has the related growth of pet insurance. As one of the leading insurance SaaS platform enablers, we enable both insurers and affinity partners such as pet stores, vets or pet food suppliers to drive increased customer satisfaction and incremental revenues and profits.”&nbsp;<a href="https://www.linkedin.com/in/danielguasco/" target="_blank" rel="noreferrer noopener">Daniel Guasco</a>, Click2Sure founder.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p><strong>Read on if you are:</strong></p><!-- /wp:paragraph --><!-- wp:list --><ul><li>An&nbsp;<strong>insurer</strong>&nbsp;offering pet insurance but looking for a better way to do it.</li><li>An&nbsp;<strong>insurer</strong>&nbsp;who’d like to add digital pet insurance to your customer offering.</li><li>A&nbsp;<strong>brand&nbsp;</strong>passionate about pet welfare and care wanting to deepen the relationship with your customers (and bring in some extra revenue)</li></ul><!-- /wp:list --><!-- wp:heading {"level":4} --><h4>Why the sustained growth in pet insurance?&nbsp;</h4><!-- /wp:heading --><!-- wp:paragraph --><p>We can speculate that it’s because pets are increasingly becoming much-loved family members, with more and more households feeling a responsibility to grant their animals the same right to medical care as they do their human family members.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>Also, during the global pandemic, the bonds between pets and humans have grown stronger. With lockdowns and the new work-from-home lifestyle, more single people have adopted pets – and all of us have spent much more time with our cats or dogs, making us more aware of their welfare. Whether our pet is a pedigree breed or a “street special” with a missing ear and a weird bark, we love them the same – and want to be able to rush them to the vet when needed, without worrying about money.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>There’s a more technical reason, which is that pet insurance has become more widely visible to consumers, as well as faster and easier to take out, thanks to the fast-growing trend of&nbsp;<strong>embedded insuranc</strong>e. This is technology that enables a digital insurance offering to be built into almost any transaction at the point of sale. Two examples:</p><!-- /wp:paragraph --><!-- wp:list --><ul><li>You pick up a bag of dog food from the supermarket and there’s a&nbsp;<a href="https://www.linkedin.com/feed/update/urn:li:activity:6780738497851465728/" target="_blank" rel="noreferrer noopener">QR code on the pack</a>&nbsp;and an invitation to scan it with your phone and take out pet insurance, with a free month to start (it’s so easy to take up the offer, you think why not?).</li><li>You choose a Rogz harness and leash at the vet, and see that it’s tagged with an offer to take out pet insurance as a Value Added Service (this makes you think about what dog walks can entail, like speeding drivers or encounters with non-leashed dogs; you decide to take out insurance).</li></ul><!-- /wp:list --><!-- wp:heading {"level":4} --><h4>What makes embedded insurance more compelling than traditional insurance?</h4><!-- /wp:heading --><!-- wp:paragraph --><p>Unlike traditional insurance which is something they might look into later, whenever they get around to it, embedded insurance is offered to consumers when it feels most relevant to them – in the case of pet insurance, just they are shopping for their pets and most likely to have their welfare top of mind, as the above examples show. Since it’s relevant, they are interested – and since it’s easy to apply with a few simple clicks, they do. So, psychology plus convenience are driving what is predicted to be a<a href="https://www.linkedin.com/pulse/embedded-insurance-3-trillion-market-opportunity-could-simon-torrance/">&nbsp;$3 trillion embedded insurance market globally.</a></p><!-- /wp:paragraph --><!-- wp:heading {"level":4} --><h4>Three important thoughts to leave you with:</h4><!-- /wp:heading --><!-- wp:list --><ul><li>As the world continues to worry about Covid-19,&nbsp;<a href="https://www.teleperformance.com/en-us/insights/blog/2021-customer-service-key-trend-empathy-is-the-star">trend analysis shows&nbsp;</a>there is a great need for brands to demonstrate more<strong>&nbsp;empathy</strong>&nbsp;to consumers; offering easy pet insurance is a way to show empathy for both consumers and their “fur babies”</li><li>Given the sustained growth of both pet insurance and embedded insurance, there is significant&nbsp;<strong>revenue&nbsp;</strong>potential in positioning yourself where the two meet.</li><li>Whether you’re a traditional insurer looking for a digital pet insurance partner, or a company passionate about increasing insurance cover for South African pets, we can launch your new offering in&nbsp;<strong>30 days.</strong></li></ul><!-- /wp:list --><!-- wp:paragraph --><p><strong>Call +27 (10) 045 4019 or e-mail&nbsp;<a href="mailto:hello@click2sure.co.za" target="_blank" rel="noreferrer noopener">hello@click2sure.co.za</a>&nbsp;if this is an opportunity you’d like to look into (ahead of competitors).</strong></p><!-- /wp:paragraph -->

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<!-- wp:paragraph --><p><strong><em>There are two rivers flowing through insurance today: the need for personalisation and the demand for a simple user experience. Telematics is the merging of these rivers. In this shortened version of an article on the role of telematics in insurance, Belinda Felix from Netstar and other industry experts explain how telematics is transforming the industry right before our eyes. </em></strong></p><!-- /wp:paragraph --><!-- wp:paragraph --><p>Vehicle telematics was originally widely used from a specialised fleet need to track heavy load vehicles and delivery drivers, to something increasingly used by the vehicle insurance sector today. Though some drivers are wary of giving their insurance provider detailed access to their driving habits, many are happy to trade off their concerns for the increased benefits and ease of use the technology offers.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p><strong>There are essentially five broad benefits to using telematics for insurance: </strong></p><!-- /wp:paragraph --><!-- wp:list {"ordered":true} --><ol><li>More accurate premiums</li><li>Ability to reward (and retain) low-risk drivers&nbsp;</li><li>Accident prevention&nbsp;</li><li>Quick, seamless claims&nbsp;</li><li>Rapid accident response&nbsp;</li></ol><!-- /wp:list --><!-- wp:heading {"level":3} --><h3><strong>More accurate premiums&nbsp;</strong></h3><!-- /wp:heading --><!-- wp:paragraph --><p>For insurers, the benefits are substantial. It is a revolution in the making for an industry that has historically had to rely on educated guesses to rate risk. As Deloitte explains in a recent paper, <em>Auto insurance telematics, The three-minute guide</em>, “Telematics is a potential game-changer for auto insurers, allowing them to decrease reliance on proxy-based measures—such as demographics and credit scores—and incorporate real-time driving behaviors to more accurately measure driver risk.”</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>Telematics takes traditional insurance a step further. Belinda Felix, General Manager for Insurance Markets at Netstar, says, “Traditionally, insurance premium calculations were based on where the vehicle 'sleeps', the make and model of the vehicle, and the age and gender of the insured driver. Insurance telematics measures ‘how you drive’ in addition to the above factors, and a consumer’s premium is based on their individual risk behaviour.”&nbsp;</p><!-- /wp:paragraph --><!-- wp:heading {"level":3} --><h3><strong>Retaining drivers&nbsp;</strong></h3><!-- /wp:heading --><!-- wp:paragraph --><p>Data is the new gold and telematics is the motherload. With accurate data based on behaviour, policyholders gain some control back over their insurance premiums. As Phumulani Mazvabo, Business Development Executive at Khanyisa Risk Services, explains, “Telematics helps us reward the effort and not the result.”&nbsp;</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>Telematics also allows insurers to offer adaptive insurance. Insurance that adapts to real life situations with minimal input from the policyholder. Take the rapid escalation of events over the past few months: “Working from home during the Covid-19 pandemic has made more people review their insurance policies and their premiums, thus you will see more insurance product offerings like ‘Pay as you drive’ and ‘Pay how you drive’,” says Felix, as people working remotely are proactively paying lower premiums by keeping their cars safely at home in their garages.&nbsp;</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>Among the benefits for an insurer is attracting ideal clients by merely having these types of policies on offer. “These policies generally attract lower risk drivers. Usage-based insurance (UBI) has changed the landscape of the motor insurance market and insurers slow to take up the opportunity are at risk of losing clientele to competitors that offer UBI products with premiums aligned to ‘good drivers’,” explains Felix.&nbsp;</p><!-- /wp:paragraph --><!-- wp:paragraph --><p><em><strong>Read the full version of this article in the Netstar CPD Hub. Apply for your sponsored 6 CPD hours by following this link  </strong></em><a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fgifs.africa%2Fnetstar-cpd%2F&amp;data=04%7C01%7CAndiswaN%40netstar.co.za%7C56edfb2cdad34e05e94f08d9030f4111%7C2ae977fc238e491fba435095e226806b%7C0%7C0%7C637544186315718882%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&amp;sdata=2kRvVqbIVfQ8nWK%2BUnBbJbkdV4KslC29w3fS0M%2BmzH0%3D&amp;reserved=0" target="_blank" rel="noreferrer noopener"><strong><em>https://gifs.africa/netstar-cpd/</em></strong></a><em><strong>. Remember, the CPD deadline is around the corner and seats are limited. Register today!</strong></em></p><!-- /wp:paragraph -->